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Representative Example for Hire Purchase (HP): Cash price £8,227.00, Annual Interest Rate (fixed) 5.17% p.a., with a representative 9.9% APR, total amount of credit £7,404.00, deposit of £823.00, an initial payment of £155.63, followed by 58 monthly payments of £155.63 with a final payment of £165.63, total amount payable is £10,170.80
Finance Representative
Product
HP
Cash Price
£6,940.00
Deposit
£694.00
Total Amount of Credit
£6,246.00
Total Amount Payable
£8,583.20
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.16%
Duration of Agreement
60
Initial Payment
£131.32
Monthly Payment
£131.32
x
58
Final Payment
£141.32
APR Representative
9.9%
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